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Term Paper for Innovation Management

In: Business and Management

Submitted By shashankverma
Words 3436
Pages 14
Book Report for Sr. MOT
Race Against The Machine
Author: Erik Brynjolfsson & Andrew McAfee

Executive Summary
“Race Against the Machine”, is an agglomeration of the mercurial amelioration in technology in the past decade. How this perturbs the inception of new jobs? Why it impinges the need for human labor? And proposition to sustain the race “with” the machines.
Key Takeaways

* How Technology and Innovation have affected Employment and the Economy * Impact of contemporary technology on wages, employment and economy * The receding need for human work force as technology exceeds its threshold * Divergence between skills of labor, superstars, capital and labor. * How to change track from racing against the machine, than to race with the machines

Key Definitions * Complimentary Innovation: Innovations that are triggered with the development of antecedent innovations. * Skilled Based Innovation Change (SBTC): shift in the production technology that favors skilled over unskilled labor by increasing its relative productivity and, therefore, its relative demand. (Easley, 2008) * Customer Relationship Management (CRM): is a widely implemented model for managing a company’s integration with customers, clients, and sales Prospects. (Wikipedia , 2012) * General Purpose Technology (GPT): Are technologies are that can affect an entire economy, at a national or global level. (Wikipedia, 2012) * Enterprise Resource Planning (ERP): systems integrate internal and external management information across an entire organization embracing finance, accounting, manufacturing, sales and service. (Wikipedia, 2012)
Best References * (Video) The following is a TED video from one of the author of this book, Andrew McAfee. The video is a 14-minute walk through the book.
Walk Through * (Video) The following is video of an...

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